Industry News

Lincotrade & Associates Holdings Limited has successfully completed a share placement, raising S$2.2m through the issuance of 10 million shares at S$0.22 each. The placement, priced at a 3.14% premium over the last traded market day, attracted significant interest from institutional investors, including Lion Global Investors Limited, ICH Synergrowth Fund, and Ginko-AGT Global Growth Fund.

The funds raised will be utilised for working capital purposes, as the company continues to expand its order book, which reached a record S$113m as of 30 September 2025. This increase is largely attributed to new contract wins valued at S$61m, all of which are commercial projects in Singapore expected to be completed over the next two years.

Jackie Soh Loong Chow, CEO of Lincotrade, expressed satisfaction with the placement’s success, stating, “We are pleased to announce the successful completion of our share placement at a price premium, garnering support from prominent institution investors. Though modest in scale, we believe it is an endorsement of our strategic vision and future prospects ahead.”

The company, specialising in interior fitting-out services, aims to leverage this momentum to drive sustainable value creation for its stakeholders. With a strategic focus on commercial projects, Lincotrade anticipates that the new contracts will positively impact its financial results over the contract duration.

Esther Lee has been appointed as the new Managing Director of Jobstreet in Singapore, announced by SEEK, the parent company of Jobstreet and Jobsdb. Previously serving as SEEK’s Head of APAC Commercial Growth, Lee pioneered the SmartHire pay-per-hire solution across Singapore, Hong Kong, and Malaysia. In her new role, she will focus on leveraging AI technology and local market insights to enhance Jobstreet’s position as a leading employment marketplace in Singapore.

Chook Yuh Yng, SEEK’s Director of Asia Sales and APAC Service, expressed confidence in Lee’s capabilities, stating, “Esther’s deep understanding of the region’s job markets and business culture, developed over her decade with us, positions her perfectly to drive Jobstreet’s growth in Singapore.” Lee’s extensive experience includes roles in Kuala Lumpur, Hong Kong, Jakarta, and Melbourne, where she managed transformation strategies and drove operational excellence.

Lee, who has been with SEEK since 2014, previously served as Acting Managing Director of Jobstreet in Indonesia, where she achieved significant business improvements. She commented, “With Singapore’s position as Asia’s business hub and gateway to Southeast Asia, there is immense potential for us to expand Jobstreet’s impact in making those connections.”

Jobstreet, operated by SEEK, has been a prominent employment marketplace in Singapore since 1999, combining local expertise with SEEK’s AI technology to connect jobseekers and employers across the Asia Pacific. Lee’s appointment is expected to further strengthen Jobstreet’s market presence and facilitate meaningful career connections in Singapore.

The Singapore Eye Research Institute (SERI) and Santen Pharmaceutical Co., Ltd. have unveiled the Santen-SERI Open Innovation Centre (SONIC) 2.0, a collaboration focused on advancing therapies for major eye diseases. This initiative, valued at S$21m, seeks to accelerate the development of first-in-class, disease-modifying treatments for conditions such as glaucoma, presbyopia, and myopia.

Building on a strategic partnership that began in 2014, SONIC 2.0 follows the success of SONIC 1.0, a S$37m programme that ran from 2017 to 2023. The new collaboration combines Santen’s pharmaceutical expertise with SERI’s clinical research capabilities, aiming to deliver innovative treatments that address significant unmet clinical needs.

The partnership is set to strengthen Singapore’s position as a leading regional centre for ophthalmic innovation. “Together, we established a strong foundation for translational ophthalmic research by combining scientific excellence, clinical expertise, and industry innovation,” said Tin Aung, CEO of the Singapore National Eye Centre.

SONIC 2.0 will focus on four strategic research themes: discovering novel therapeutic concepts for glaucoma, establishing advanced pre-clinical models for presbyopia, improving myopia treatments, and investigating anti-scarring agents for multi-disease applications. The programme is expected to run from December 2025 to November 2028, with joint investment from both Santen and SERI.

This collaboration not only aims to deliver commercial-ready innovations but also seeks to enhance Singapore’s biomedical R&D leadership, ultimately benefiting patients with earlier access to innovative treatments and improved outcomes.

Skylink Holdings, one of Singapore’s largest commercial vehicle leasing companies, has announced the acquisition of 132 commercial vehicles from a third-party seller. This strategic move aims to provide an immediate recurring revenue stream and optimise the company’s fleet replacement cycles. The acquisition is part of Skylink’s broader strategy to enhance its market competitiveness and long-term growth objectives.

The newly acquired vehicles will be integrated into Skylink’s existing contracts, which have secured a minimum non-cancellable contract amount of $18.3m (S$25m) as of 30 September 2025, with $12.1m (S$16.6m) to be recognised within a year. The company’s engineering segment will also benefit from additional service contracts, as the seller is required to provide a three-month warranty and cover repair and maintenance costs for the fleet.

Skylink’s Non-Independent Non-Executive Chairman, Teh Wing Kwan, highlighted the importance of aligning fleet investment plans with the operational needs of corporate clients. “Our corporate clients typically focus on business feasibility in their long-term leasing decisions with us,” he stated. Meanwhile, CEO Wesley Shen emphasised the initiative’s potential to generate immediate revenue with zero client acquisition cost, leveraging Skylink’s growing customer base and high utilisation rates.

The expansion is supported by Skylink’s engineering facilities, which include a total workshop area of 33,300 square feet, with an additional 15,000 square feet recently leased at Jurong Port Road. This infrastructure will facilitate the company’s ability to provide bodywork repair and maintenance services, further enhancing its business performance.

The Republic of Singapore Yacht Club (RSYC) is set to dazzle Singapore’s West Coast with its Christmas Boat Light-Up Parade on 13 December 2025. The event, running from 6 to 9pm, will transform the marina along 52 West Coast Ferry Road into a festive wonderland, showcasing a fleet of illuminated yachts adorned with Christmas trees, fairy lights, and nautical decorations.

The parade is part of RSYC’s month-long Christmas Light-Up of the Clubhouse, which begins on 5 December. This annual event aims to celebrate the festive season by illuminating the club’s heritage marina. The light-up promises to offer a unique visual spectacle, with shimmering reflections dancing across the water, providing a captivating experience for both the public and media.

Visitors can enjoy the parade from the West Coast promenade or the shoreline, ensuring a memorable festive experience. The RSYC’s initiative not only highlights the club’s commitment to celebrating the holiday season but also enhances the festive atmosphere in Singapore’s West Coast area.

The Christmas Boat Light-Up Parade is expected to attract a significant number of visitors, offering a unique opportunity to experience the magic of the holidays in a maritime setting. As the RSYC continues to light up the festive season, the event underscores the club’s role in bringing the community together through innovative and engaging celebrations.

JLand Group, the real estate and infrastructure arm of Johor Corporation, has launched the Ibrahim Technopolis (IBTEC), a 7,290-acre integrated development in Johor, Malaysia. Officially inaugurated by Tunku Abdul Rahman Al-Haj Ibni Sultan Ibrahim, the Tunku Panglima of Johor, IBTEC is set to be a key economic driver within the Johor-Singapore Special Economic Zone.

IBTEC is designed to integrate medtech, life sciences, advanced manufacturing, logistics, data centres, and agritech into a cohesive innovation ecosystem. Supported by research and development capabilities and sustainable systems, the development aims to elevate Johor’s industrial base into higher-value, tech-enabled activities. Datuk Syed Mohamed Syed Ibrahim, President and CEO of JCorp and Chairman of JLand Group, described IBTEC as “an investment for the next generation” and a signal of Johor’s readiness to compete globally.

The development is positioned as a world-scale innovation sandbox, allowing industry, government, and innovators to pilot and scale new solutions. It is Malaysia’s first 5-Diamond-rated data centre park under the national Low Carbon City Framework, featuring Livilab at Exclaim Discovery City, a mixed-use nucleus designed by Zaha Hadid Architects.

Structured as an investor-ready platform, IBTEC aligns with national and state agendas, including the 13th Malaysia Plan and Johor’s Maju Johor 2030 aspirations. Datuk Sr Akmal Ahmad, Group Managing Director of JLand Group, emphasised that IBTEC will facilitate faster investor entry and growth.

As IBTEC develops, it is expected to create higher-value jobs, enhance SME participation, and offer new opportunities for local entrepreneurs, contributing to Malaysia’s transition to a high-income economy. “We will measure IBTEC’s success not only by the investments it attracts but by how it helps Malaysians and Johoreans move up the value chain,” said Datuk Sr Akmal.
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Digital Realty, a leading global provider of data centre solutions, has partnered with BW Digital to enhance cross-border connectivity between Singapore and Batam, Indonesia. This collaboration involves the integration of BW Digital’s Nongsa Changi Cable System (NCC) with Digital Realty’s SIN12 data centre, aiming to support the growing demand for AI and digital transformation in the region.

The partnership will see the direct landing of the NCC submarine cable into Digital Realty’s SIN12 facility, significantly boosting network resilience and capacity. This enhanced interconnection is expected to facilitate faster and more reliable data exchange, crucial for enterprises expanding across Southeast Asia. The NCC is designed to deliver over 1.6 petabits per second of new capacity with less than 2 milliseconds latency to Singapore, making it a strategic hub for hyperscale and AI infrastructure.

Digital Realty’s Managing Director and Head of Asia Pacific, Serene Nah, highlighted the importance of subsea networks in the region’s digital economy, stating, “By integrating BW Digital’s Nongsa–Changi system into SIN12, we are working to deliver faster and more resilient connectivity to support customers as they scale next-generation workloads.”

BW Digital’s Chief Business Officer, Virginie Frouin, emphasised the partnership’s role in bridging the gap between submarine cable infrastructure and land-based digital platforms, aiming to provide reliable and secure connectivity.

AJJ Healthcare Management, a subsidiary of AJJ Medtech Holdings Limited, has entered into a strategic partnership with Suzhou ZOEY Medical Devices to develop and produce hollow fibre haemodialysers in Singapore. This collaboration marks AJJ’s entry into the renal dialysis value chain, offering a cost-competitive alternative to current imported dialysis products, potentially saving patients between 10% and 30%.

The partnership leverages AJJ’s ISO 13485-certified quality infrastructure and OEM management platform, enabling the company to expand into the high-value renal care sector. This move is part of AJJ’s strategic transformation from a trader to a system-driven medical manufacturing and registration platform. The collaboration is expected to address the rising treatment costs in Singapore’s healthcare system without compromising quality.

Singapore’s haemodialysis market, serving approximately 7,800 patients, presents a significant opportunity for AJJ. The recurring nature of dialysis treatments ensures a stable demand, providing a solid foundation for long-term revenue. The partnership also promises to bring solutions to market 12 to 18 months faster than conventional approaches, thanks to AJJ’s integrated OEM framework.

The collaboration is built on strong quality standards, with both parties maintaining ISO 13485-certified systems. AJJ retains audit rights and will benefit from supply arrangements that provide access to future product innovations. The financial impact is expected to be minimal for FY2025, with significant contributions anticipated from the second half of 2026, following successful Health Sciences Authority approval.

DBS and the Korea Ocean Business Corporation (KOBC) have signed a Memorandum of Understanding (MOU) to facilitate the expansion of Korea’s maritime and logistics sector throughout Asia. This collaboration, announced on 3 December, marks KOBC’s first partnership with a foreign bank, enabling Korean maritime companies to leverage DBS’ extensive regional network and financing solutions.

The agreement coincides with the opening of KOBC’s first overseas branch in Singapore, a strategic move to strengthen the Republic of Korea’s maritime links with the city-state, recognised as the world’s leading maritime hub. The partnership aims to support Korean firms in diversifying into new markets by providing access to DBS’ digital cross-border payment capabilities, trade financing, and sustainable financing solutions.

Korea, a global leader in shipbuilding and high-value vessels, stands to benefit significantly from this collaboration. The initiative aligns with broader efforts to promote green shipping and digitalisation between Singapore and Korea, enhancing supply chain resilience and expanding global investment opportunities for Korea’s maritime industry.

Under the MOU, DBS and KOBC will work together to facilitate KOBC’s access to Singapore’s financial market, develop sustainable finance solutions, and enhance competitiveness across the maritime value chain. Han Kwee Juan of DBS expressed the bank’s commitment to supporting Korean firms in their sustainable regionalisation efforts, whilst Byung-Gil Ahn of KOBC highlighted the partnership’s role in strengthening Korea’s maritime industry.

This collaboration builds on DBS’ longstanding relationship with Korea, furthering its commitment to driving sustainable innovation and growth in the region.

HDB resale prices in Singapore experienced a modest increase of 0.2% in November 2025, according to the latest 99-SRX Media Flash Report. This slight rise follows a softer October, with year-on-year prices up by 3%. The report highlights a significant rebound in transaction volumes, with 1,674 flats sold, marking a 24.3% increase from the previous month.

The report, attributed to Luqman Hakim, Chief Data & Analytics Officer at 99.co, indicates that the market’s resilience is evident despite higher interest rates and policy adjustments. Demand remains strong, particularly for well-renovated units and those near transport nodes or schools. “This steady annual growth is consistent with broader market resilience,” Hakim noted.

Breaking down the figures, prices for 3-room, 4-room, and Executive flats saw increases of 0.3%, 0.7%, and 1.3%, respectively, whilst 5-room flats experienced a 0.6% decrease. Year-on-year, all room types recorded price gains, with Executive flats leading at 6.9%.

The report also reveals a robust market for million-dollar transactions, with 120 such flats sold in November, up from 87 in October. This increase reflects both the volume recovery and sustained demand for high-quality units. Notably, Bukit Merah recorded the highest number of million-dollar sales, followed by Toa Payoh and Queenstown.

Looking ahead, the continued demand for well-located and high-quality flats suggests a stable outlook for the HDB resale market, even amidst economic uncertainties.